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Algoriddim, the developer of djay for iPhone, iPad, and Mac, has released an iPhone version of its video and music mash-up creation app today. vjay for iPhone joins its sibling for Apple’s tablet, vjay for iPad, in the App Store at a special introductory price of $.99, bringing video and music mixing and scratching to the latest iOS devices.

Our goal at Algoriddim is to create a world where every single person can be an artist and bring their favorite memories to life by creating and sharing music and video mash-ups on the fly,” said Karim Morsy, CEO and co-founder of Algoriddim. “For the first time, we’re giving everyday users the ability to capture and express themselves through video content using their smartphones. With built-in Facebook and YouTube support for vjay, users can instantly share their creations while on the go from anywhere.”

With vjay, you can combine music and video to create a new version of your favorite music video or jazz up your videos of friends and family with a cool soundtrack. You can access music stored in your iPhone’s music library and when it comes to video, you can use any of the several built-in clips, access videos in your iPhone’s video library, or create your own using the iPhone’s camera or import existing videos from your Camera Roll. Editing tools include audio-visual and transition effects, looping tools, and real-time VideoScratch™ to add that well-known DJ effect to your creations.

Here’s a demo video showing vjay in action on the iPhone:

There are no tutorials presented when you first open vjay nor are there any found elsewhere within the app. I’m not terribly at ease with multi-paned music or video editing interfaces and vjay’s feels a little awkward to me but it’s not too hard to muddle through with a little experimentation. All in all, it feels like a high-quality app (just like Algoriddim’s other iOS offerings) and it can be a powerful mobile tool if you’re the creative type.

vjay for iPhone requires iOS 5.1 or higher and works only on the latest iOS devices: the iPhone 4S, iPhone 5, and the 5th-generation iPod touch. The app is currently on sale for a special introductory price of $.99 and my guess is that the full price will be around $5 when this sale ends (the regular price of the iPad version is $9.99), so get it now if you want to be ready to create some awesome mash-ups of those winter holiday visits with your friends and family.

(Now would also be a good time to pick up djay for iPhone, which is completely free for today only to celebrate the release of vjay.)